52 PLEASANT DR, Ormond Beach, FL 32176
Wow! Over a quarter of an acre BEACH-SIDE! Live that Beach dream in the heart of Ormond Beach. This beach beauty is cradled between the Halifax River and the Atlantic Ocean. The backyard is fenced and private with restricted land behind so there are no rear neighbors! This low-interest loan is assumable for Veterans (only Veterans and buyer will need cash to make up the difference!) FYI, This is just a gorgeous neighborhood! Amazing home just blocks to gorgeous Ormond Beach. Close proximity to wonderful restaurants, curiosity shops, grocers, and more in an area of well-groomed properties a half block to the Halifax River. This unique home has 3 bedrooms, 2 full baths, an office/work room, 2 different oversized living areas, a spacious dining room, and a modern kitchen with a large pantry, soft-close drawers, a lazy Susan cabinet, an appliance lift, and a reverse-osmosis water filtration system. The house has a flexible floor plan where the side portion of the home with 2 rooms, a bathroom, a private front entrance, and a “secret” wall-door that separates it from the main living areas can be a perfect setup for roommates, an in-law suite, or guests. The property has a nice screen room and a deck off the rear of the home. All of this with NEW kitchen appliances, NEW Range Hood,NEW Hot water heater, NEW light fixtures, a whole-house water filtration system, a whole-house surge protector, a new HVAC system in 2022, a roof 9 years new, an irrigation system, and hurricane impact windows and shutters for the front windows. Nothing that needs to be done, so bring your beach chair.This is a fabulous home in a great area.
You may be able to put down less than the total down payment amount of $119,518 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Frequently asked questions
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #v4934103
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.